Coin WorldMonday, Jul 7, 2025 12:51 am ET

1min read

Speculation surrounding a potential UAE crypto visa program has sparked significant market volatility, particularly affecting the price of Toncoin (TON). Changpeng Zhao, former CEO of Binance, highlighted an unconfirmed report suggesting that staking at least $100,000 worth of TON could secure a UAE Golden Visa. This news, despite lacking official verification from UAE authorities, has led to a notable increase in TON's market price, illustrating the speculative nature of the cryptocurrency sector.

CZ's comments have drawn attention to the potential impact on Binance's native token, BNB. He stated, "If this is true, we will definitely work hard to ensure that BNB also enjoys the same treatment." This speculation has added to the market's anticipation, as investors consider the possibility of similar residency benefits for other major cryptocurrencies.

The proposed program involves a substantial investment and service fee, though its authenticity remains uncertain. Pavel Durov of Telegram reposted the news on X (formerly Twitter), adding to its visibility despite the lack of official endorsement. This has further fueled market speculation and price volatility.

Immediate effects include an 11% surge in TON's price due to rumors. Industry observers note the lack of regulatory confirmation, emphasizing that no UAE authorities have verified the initiative. Financial impacts include potential opportunities if official confirmation occurs, particularly for BNB, as suggested by CZ.

Historical precedents for crypto-focused residency programs are limited, highlighting the novelty of such an initiative. Industry stakeholders stress the importance of verifying official endorsements before acting. The ongoing situation demands careful observation as the regulatory landscape in the UAE develops. If verified, this program could create a new precedent in the intersection of cryptocurrency with official residency programs, affecting future token valuations including potentially BNB.